I n t e r a c t I v e t e X t foundations in Accountancy/ acca financial accounting (ffa/FA) bpp learning Media is an acca approved Content Provider

 

49 

QUESTION 

Documentation

 

Fill in the blanks. 

'Crockery Supplies sends out a . . . . . . . . . . . . to a credit customer in order to correct an error where a 

customer has been overcharged on an . . . . . . . . . . . . .' 

ANSWER 

Credit note; invoice.  

 

 

2

   The need for books of prime entry 

In the course of business, source documents are created. The details on these source documents need to 

be summarised, as otherwise the business might forget to ask for some money, or forget to pay some, or 

even accidentally pay something twice. It needs to keep records of source documents – of transactions – 

so that it knows what is going on. Such records are made in books of prime entry.